Sepracor Announces Management Transition
Tuesday May 15, 7:00 am ET
Adrian Adams Assumes President and Chief Executive Officer Position
MARLBOROUGH, Mass.--(BUSINESS WIRE)--Sepracor Inc. (Nasdaq: SEPR - News) today announced that Adrian Adams, President and Chief Operating Officer of Sepracor, has been elected to the role of President and Chief Executive Officer, effective immediately. Mr. Adams assumes the Chief Executive role from Timothy J. Barberich, who has been elected Executive Chairman of the Board of Directors.
"I am proud of all that we at Sepracor have accomplished over the last 23 years. I look forward to strong contributions from Adrian as he assumes leadership of the company," said Mr. Barberich. "I believe that his wealth of experience in the pharmaceutical industry, combined with his energy and vision will be great assets in enabling Sepracor's future growth and success."
Mr. Adams joined Sepracor on March 1, 2007. Prior to joining the company, he was President and Chief Executive Officer of Kos Pharmaceuticals, Inc. from 2002 until the acquisition of the company by Abbott Laboratories in December 2006 for $3.7 billion. During his tenure he increased revenues ten-fold and led the transformation of Kos into a fully integrated and profitable pharmaceutical company with annual revenues approaching one billion dollars and strong positions in the cardiovascular and respiratory disease areas. Mr. Adams has over 30 years of experience in both specialty and large pharmaceutical organizations that, in addition to Kos, included careers with ICI, SmithKline Beecham and Novartis, and involved work and product launches in many therapeutic areas. Mr. Adams has a broad background encompassing research and development, sales, international and national product marketing, business development and extensive general management experience.
"To me, Sepracor represents a truly remarkable and successful company in the highly competitive pharmaceutical industry," said Mr. Adams. "Under Tim's strong leadership, Sepracor grew from an idea into a fully integrated research-based company with approximately $1.2 billion in revenues last year and more than 2,500 employees. His vision and achievements have made Sepracor what it is today, and I am delighted and honored to be appointed his successor. I am excited about the opportunity, and I am pleased to be in a position to lead and build Sepracor into its next phase, which I anticipate will be a period of innovation, growth and continued success." |
